Spiders - September S&P E-mini Futures: I think yesterday’s 1163 low marked the start of a substantial rally. First upside target is 1250 but I expect higher prices than that in a week or two. Support today is 1186.
QQQ: Support is at 41.50 and resistance above the market is at 44.25.
TLT - December Bonds: The market has reached and exceeded the 123 target. I think the next big move will be downward. market will reach 123 before it heads lower.
December 10 Year Notes: The notes stopped just shy of the 120 target. I think the next big move from here will be downward.
Euro-US Dollar: The trend in the euro is downward and I think the market is headed for 135. Resistance above the market is at 145.00.
Dollar-Yen: The market is headed for 98.00.
XLE - OIH - USO – October Crude: Crude has reached the 91 level and a rally of $10-15 is imminent.
GLD - December Gold: Gold is headed for 700. Resistance above the market is at 840.
SLV - December Silver: Resistance is at 1390 and I think we shall see a drop below 1000 before silver can start a big rally.
Google: Google is probably now headed for 375.
2 comments:
I am a buyer today under 1190 with target of 1230...ish
cheers
Susn
Yesterday's low may mark the start of another bear market rally, but thats about it. This bear has another 6 or so months to run. When the time comes for the new bull to start, most people will be afraid to buy.
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